Governance, Risk and Compliance - The Chinese Insurance Industry, New Report Launched

The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in China, including:

• An overview of the insurance regulatory framework in China.
• The latest key changes and changes expected in China's insurance regulatory framework.
• Key regulations and market practices related to different types of insurance product in the country.
• Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in China.
• Key GRC parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency requirements, reserve requirements, and investment regulations.
• Details of the tax and legal systems in the country.

Governance, Risk and Compliance - The Chinese Insurance Industry report is the result of extensive research into the insurance regulatory framework in China. It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operations of insurance and reinsurance companies and intermediaries.

The report brings together Publisher’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, recent and upcoming changes in regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

Scope

• This report covers details of the insurance regulatory framework in China.
• The report contains details of rules and regulations governing insurance products and insurance entities.
• The report lists and analyzes key trends and developments pertaining to the Chinese insurance regulatory framework.
• The report analyzes rules and regulations pertaining to the establishment and operation of insurance business in the country.
• The report provides details of taxation imposed on insurance products and companies.

Reasons to Buy

• Gain insights into the insurance regulatory framework in China.
• Track latest regulatory changes and expected changes impacting the Chinese insurance industry
• Gain detailed information about key regulations governing the establishment and operation of insurance entities in the country
• Understand key regulations and market practices relating to various types of insurance product.

Key Highlights

• The China Insurance Regulatory Commission is responsible for the regulation and supervision of the Chinese insurance industry.
• FDI is permitted up to 100% in non-life insurance and 50% in life insurance business.
• A new risk-based solvency standard, the China Risk Oriented Solvency System, introduced in May 2013, is expected to be fully implemented by 2017.
• Business tax is imposed at a rate of 5% on general insurance products; however, life insurance products are exempt from this tax.
• Non-admitted insurance is not permitted in the Chinese insurance industry.

Spanning over 60 pages, “Governance, Risk and Compliance - The Chinese Insurance Industry” report covers the Introduction, Governance, Risk and Compliance, Appendix. The report covered companies are - People’s Insurance Company of China, People’s Bank of China, China Reinsurance Company.

For further information on this report, please visit- http://mrr.cm/4W6

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